Monthly Archives: January 2014

Converting 1031 Replacement Property To A Principal Residence

Converting 1031 Replacement Property To A Principal Residence

One of the hidden benefits of doing a Section 1031 exchange is that the code permits the taxpayer to change the use of the replacement property without triggering a realization of the deferred gain that was accumulated into it! But, like so many other rules in this area, strict compliance with the guidelines is required. …

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